Stocks that have been under pressure this week could be poised for a rebound. Major stock averages rose on Friday, attempting to rebound from the previous session’s decline and the Dow Jones Industrial Average’s worst day since March 2023. Despite attempts at recovery, all three indexes are having a down week. Investors dealt with several factors weighing on sentiment this week, including a jump in oil prices and renewed concerns that the U.S. Federal Reserve will keep interest rates high for an extended period of time. . Even though stock prices have slumped in recent days, some stocks may be poised to soar. We used the CNBC Pro Stock Screener tool to identify oversold companies based on their 14-day relative strength index. A reading below 30 suggests the stock is oversold and there may be a buying opportunity, while an RSI above 70 indicates the stock is overbought. This suggests that we may be entering a period of decline. McDonald’s paved the way. The stock is down more than 5% this week and is down nearly 10% in 2024. The stock is slightly oversold with a 14-day RSI of 24.52. Analysts remain optimistic about the stock, with 67% of analysts rating it either a buy or overweight, according to FactSet’s Rated Stocks survey, with an average price target of more than 21% upside potential. It suggests. MCD YTD Mountain McDonald Stock. The company recently announced an expanded partnership with Krispy Kreme, with plans to sell donuts nationwide at its burger chain by the end of 2026. McDonald’s also announced Friday that it intends to acquire all 225 stores that make up its Israeli franchise. Biopharmaceutical company Biogen also made the list, with a 14-day RSI value of 29.71. The stock price fell more than 21% in 2024. Back in February, Biogen cited a decline in sales of its multiple sclerosis drug, which missed Wall Street’s fourth-quarter expectations. BIIB YTD Mountain Biogen Strain. But analysts also think Biogen will rebound, with 74% rating the stock a “buy” or “overweight” in a FactSet survey. Analysts’ average price target suggests more than 45% upside potential. Baird analyst Brian P. Scorney recently expressed optimism about Biogen’s potential to expand in Latin America, saying the company is selling around 2,000 people for its spinal muscular atrophy drug Spinraza. It is said to be able to treat 4,000 patients. Other oversold stocks on the list include Starbucks and Nike. Disclosure: The above is subject to our Terms of Use and Privacy Policy. This content is provided for informational purposes only and does not constitute financial, investment, tax, or legal advice or a recommendation to purchase any securities or other financial assets. The content is general in nature and does not reflect your unique personal circumstances. The above may not be appropriate for your particular situation. Before making any financial decisions, you should strongly consider seeking the advice of your own financial or investment advisor.
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